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Bellpenny boosts assets with double acquisition

9 January

IFA consolidator Bellpenny acquired a combined £187 million in funds under management from two IFA firms.

The acquisitions of London-based Actuarial & Investment Services, which advises on £75 million, and Birmingham-based The Hammond Consultancy's £112 million in funds meant Bellpenny has now completed 15 acquisitions. This deals took Bellpenny's total assets under advice to £1.3 billion.

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Suitors circle Jupiter wealth arm

13 January

It emerged that Jupiter Fund Management was considering selling its wealth management division, with Towry (Towry's Andrew Fisher pictured), Quilter Cheviot and Rathbones all in the frame to buy the business, which is worth an estimated £50 million.

The Sunday Times reported that Jupiter has appointed investment bank Evercore to examine the division’s future after it received an unsolicited offer for its wealth management arm, which has £2.2 billion of assets under management.

Warburg takes stake in Source

The move was pushed through by former iShares head Lee Kranefuss, who works for Warburg and will join Source as executive chairman, working alongside the firm's chief executive Ted Hood.

The US private equity firm bought the stake from a host of US investment banks, including Goldman Sachs and Bank of American Merrill Lynch. Other Source backers included JP Morgan, Morgan Stanley and Nomura and all five banks will remain minority shareholders.

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Private equity firm buys into Succession

28 January

Inflexion Private Equity took a majority holding in national advice firm Succession Group.

Inflexion purchased 50.1% of shares in the group and will provide further funding through to 2017 for Succession’s ongoing acquisitions of its member firms. Firms are eligible to be acquired once they have completed Succession’s ‘transition’ programme.

Succession set out a goal to acquire the best 50 of its 62 member firms between now and 2017.

Saracens chairman backs Nutmeg

Nick Hungerford (pictured), chief executive and co-founder of Nutmeg, said he was looking forward to capitalising on Wray's broad experience of building, expanding and managing financial services businesses.

Leave a comment!

Bellpenny boosts assets with double acquisition

9 January

IFA consolidator Bellpenny acquired a combined £187 million in funds under management from two IFA firms.

The acquisitions of London-based Actuarial & Investment Services, which advises on £75 million, and Birmingham-based The Hammond Consultancy's £112 million in funds meant Bellpenny has now completed 15 acquisitions. This deals took Bellpenny's total assets under advice to £1.3 billion.

The Hammond Consultancy will continue to run its pensions business.

Leave a comment!

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Suitors circle Jupiter wealth arm

13 January

It emerged that Jupiter Fund Management was considering selling its wealth management division, with Towry (Towry's Andrew Fisher pictured), Quilter Cheviot and Rathbones all in the frame to buy the business, which is worth an estimated £50 million.

The Sunday Times reported that Jupiter has appointed investment bank Evercore to examine the division’s future after it received an unsolicited offer for its wealth management arm, which has £2.2 billion of assets under management.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.

Warburg takes stake in Source

The move was pushed through by former iShares head Lee Kranefuss, who works for Warburg and will join Source as executive chairman, working alongside the firm's chief executive Ted Hood.

The US private equity firm bought the stake from a host of US investment banks, including Goldman Sachs and Bank of American Merrill Lynch. Other Source backers included JP Morgan, Morgan Stanley and Nomura and all five banks will remain minority shareholders.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.

Leave a comment!

Private equity firm buys into Succession

28 January

Inflexion Private Equity took a majority holding in national advice firm Succession Group.

Inflexion purchased 50.1% of shares in the group and will provide further funding through to 2017 for Succession’s ongoing acquisitions of its member firms. Firms are eligible to be acquired once they have completed Succession’s ‘transition’ programme.

Succession set out a goal to acquire the best 50 of its 62 member firms between now and 2017.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.

Saracens chairman backs Nutmeg

Nick Hungerford (pictured), chief executive and co-founder of Nutmeg, said he was looking forward to capitalising on Wray's broad experience of building, expanding and managing financial services businesses.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.

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